The Commission for Protection of Competition (CPC) permitted the establishment of a joint enterprise by Prista Oil Sofia and Verila Lubricants Sofia, the CPC announced, Bulgarian news agency BTA reported on December 13.
The aim of the merger is to help modernise the companies' work and bring it up to EU standards, the CPC says. The manufacture of high-quality vehicle and engine lubricants is planned.
The CPC analysed the affected lubricant, grease and auto-cosmetics manufacture markets. The research showed the forthcoming deal would not lead to a considerable change in Prista Oil and Verila Lubricants' positions.
The CPC decided that the new enterprise was not expected to have a negative impact on the relevant markets nor to lead to the establishment or reinforcement of a dominant position, BTA said.
